Symbiotec Pharmalab IPO Offers Huge Gains to Early Investors

Symbiotec Pharmalab is planning to sell shares to the public through an IPO.

The IPO is expected to raise ₹1,757 crore.

Some of the money will go into the company, while much of the offering will let existing investors sell shares.

The proposed price is ₹988 per share.

Some early investors bought their shares much more cheaply, so they could make very large paper profits.

Satwani Holdings could make about a 1,900% profit on the shares it is selling.

Investor Rakesh Jhunjhunwala invested in the company years ago.

His shares were later adjusted after a stock split and could be worth about ₹361 crore at the IPO price.

The shares are scheduled to list on the BSE and NSE on September 1.